In a remarkable turn of events, BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT) has overtaken Grayscale’s Bitcoin Trust (GBTC) to become the largest Bitcoin exchange-traded fund (ETF).

This transition marks a significant milestone in the competitive landscape of Bitcoin ETFs, highlighting BlackRock’s rapid ascent in the market.

On May 28, BlackRock’s IBIT experienced a notable inflow of $102 million, while Grayscale’s GBTC saw outflows amounting to $105 million.

According to data from Apollo, this shift in investments pushed IBIT’s holdings to 288,670 BTC, surpassing GBTC’s 287,450 BTC. As a result, IBIT’s assets reached nearly $20 billion,…

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